- Under the Land Bank Act 2012, 2117 on Delinquent property tax enforcement clearly states that a land bank may not engage in any of the following absent an agreement with a county, city, borough, incorporated town, township, school district, or body politic and corporate created as a municipal authority pursuant to a law whose claims comprise the upset sales price:
- Purchase property for less than the upset sales price described in section 29 of the Municipal Claim and Tax Lien Law or section 301 of the Second Class City Treasurer’s Sale and Collection Act.
This is a clear violation in the present case as the property is valued at a higher rate than what was placed for a bid.
- Lower South Valley Land Bank Bylaws Article II, Section 2.1. the purpose of The Land Bank is to address blighted, vacant, abandoned, and tax-delinquent properties and transition these properties to beneficial reuse using a unified, predictable, and transparent process in order to revitalize communities and strengthen their respective tax bases.
No transparency has been shown or demonstrated in the manner the subject property was disposed of or transitioned, which does not meet the purpose it was instituted for but is covered in a shroud of darkness and mystery.
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